by designonetest | Mar 28, 2014 | Sales Process:
As this video explains, a signed sales contract doesn’t mean your house is sold. There are still financial, contractual and legal steps for both sides. The buyer has to get financing to meet the contract terms – which includes credit checks. The property is...
by designonetest | Jan 13, 2014 | Mortgages:
Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage the...
by designonetest | Jan 13, 2014 | Financing:
You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you’ll need the following information. Pay stubs for the past 2-3 months. W-2 forms for the past 2 years....
by designonetest | Jan 13, 2014 | Title and Closing
As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner’s insurance mortgage insurance (if applicable), and property taxes. Escrow...
by designonetest | Jan 13, 2014 | Mortgages:
The original phrase “mort gage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien – a legal claim on the home or property that secures the promise to pay...
